GameStop stock experiences a short squeeze driven by retail trading and Reddit

The GameStop stock saw a significant increase in value due to a short squeeze orchestrated by retail traders on the subreddit Wall Street Bets. This surge in retail trading has been on the rise since the pandemic, with more people using online brokerage platforms like Robinhood. The popularity of GameStop as a buy among retail traders grew, leading to a collective effort to manufacture a short squeeze. The short squeeze strategy was aimed at causing hedge funds who had shorted GameStop's stock to buy back the stock at a higher price, resulting in massive losses for the hedge funds and driving up the stock price even further. However, concerns remain about the sustainability and underlying value of GameStop's stock, leading to speculation of a potential bubble and its eventual collapse.